Forex4you's Blog (405)
Forex4you Technical Analysis 08 April 2011
The small and large box point and figure charts are bullish whilst the 3 x 0.0015 chart has exceeded its 1.4385 target. The 3 x 0.0005 chart is giving a target of 1.4455 whilst the larger 3 x 0.005 is giving 1.4550. It is likely that the exchange rate will continue rising, therefore, first to the lower target and then eventually to the 1.4550 level.…
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Added by Forex4you on April 8, 2011 at 9:24am — No Comments
Forex4you Technical Analysis 06 April 2011
The market is "bullish" and the price is currently testing new local maximums at 1.4300/10 level. Indicators suggest further up trend as well, although MACD divergence together with R% are warning of a large scale correction, that may commence any time. A pull back can even begin from 1.4350/40 levels, like it has been previously anticipated. Support 1.4060/70 - the up trend channel (blue) line - may be the first target for decline on the… Continue
Added by Forex4you on April 6, 2011 at 8:09am — No Comments
Forex4you Technical Analysis 05 April 2011
EUR/USD is going sideways now but it may fall soon as there is a fulcrum top reversal pattern on the 3 x 0.0005 chart with a downside target of 1.4130. Eventually, however, the uptrend will probably resume given the continuing bullish targets of 1.4385 and 1.4550 on the larger box charts.
GBP/USD: Technical… Continue
Added by Forex4you on April 6, 2011 at 2:30am — No Comments
Forex4you Technical Analysis 01 April 2011
The EUR/USD pair has pulled back to 1.4150 but it will probably resume its rally to the current upside target of 1.4280. This corresponds with the major highs achieved in November ’10. A break lower, however could bring into play the downside target of 1.4080 on the 3 x 0.0005 chart, but the overall thrust is still bullish.…
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Added by Forex4you on April 1, 2011 at 9:18am — No Comments
Forex4you Technical Analysis 31 March 2011
The points made in yesterday’s analysis have not changed except that the exchange rate has now started to break above its consolidation pattern, although the upside targets of 1.4280 and 1.4385 remain. There is a possibility of a small pullback first, however, probably to 1.4145, as the 1.4190 target on the 3 x 0.0005 chart has now been met.…
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Added by Forex4you on March 31, 2011 at 8:31am — No Comments
Forex4you Technical Analysis 30 March 2011
The longer term point and figure chart remains bullish and is still in an uptrend with an target of 1.4550. On the smaller charts the exchange rate is currently going sideways in a consolidation but if there is a break higher then the 3 x 0.0015 chart yields an upside target of 1.4385. The line of resistance at 1.4280 could also provide an even closer target.…
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Added by Forex4you on March 30, 2011 at 8:08am — No Comments
Forex4you Technical Analysis 29 March 2011
The price failed to hold below 1.4060/50 level, so it recommenced growth and now resides at 1.4130/40 level. This may be deemed as further consolidation within 1.4250-1.4060/50 range with a possible long-term down trend (red) line test around levels 1.4300/1.4290. However, indicators don't say in favor of future growth, so ascension to 1.4300 level is a very small possibility, and the price will most likely return to a decline from 1.4220/50… Continue
Added by Forex4you on March 29, 2011 at 8:07am — No Comments
Forex4you Technical Analysis 28 March 2011
The EUR/USD pair has fallen to just above an important trendline reaching back to the January lows. It will probably fall a little further to meet the trendline currently situated at roughly 1.3980 which also coincides with a monthly pivot line. From there, there is a good possibility of a bounce, and the level of the monthly pivot at 1.4131 could supply a possible target.…
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Added by Forex4you on March 28, 2011 at 8:03am — No Comments
Forex4you Technical Analysis 25 March 2011
The trend reversed yesterday and began rising. It will probably continue up as the 0.0015 box chart’s uptrend is intact and is still showing an upside target of 1.4385. However, the smaller 0.0005 box chart affords a more achievable target of 1.4265. It is quite possible that the exchange rate will continue to rise to that level.…
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Added by Forex4you on March 25, 2011 at 8:04am — No Comments
Forex4you Technical Analysis 24 March 2011
Several bearish targets have been met - at 1.4050 and 1.4085 and so it is possible the down move may have reached a conclusion. A consolidation period may begin from here - or a new move up, although it is too early to establish any meaningful upside targets yet and the only count so far yielded 1.4130 which has just been achieved.…
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Added by Forex4you on March 24, 2011 at 8:05am — No Comments
Forex4you Technical Analysis 23 March 2011
Resistance 1.4250 level hindered growth, so the price now consolidates around level 1.4170/50. Indicators are turning down, suggesting to expect further decline. Yet, current pull back should be considered a correction within the up trend. Sideways movement in the range 1.4250 – 1.4130 is also quite a possibility, support level for this range may be moved lower, to 1.4060/50 level. A steeper decline will be considered as a signal to the… Continue
Added by Forex4you on March 23, 2011 at 8:02am — No Comments
Forex4you Technical Analysis 22 March 2011
The current rally is still in progress. The next target on the 0.0005 chart is 1.4265, followed by 1.4385 on the larger 0.0015 box chart. The exchange rate will probably continue rising therefore, initially reaching the first of these targets before possibly going higher still.
Analysis by: Joaquin Monfort
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Added by Forex4you on March 22, 2011 at 8:06am — No Comments
Forex4you Technical Analysis: 21 March 2011
Previous forecast, saying that price may continue its growth and test 1.4130/1.4170 levels turned out to be correct. Touching 1.4180/70 level, the price began to pull back downwards. At the moment, trading is carried out around levels 1.4150/55. Indicators say in favor of growth, albeit the readings are not all unanimous, which gives reasons to consider a possible pull back, that may grow into quite a long-term sideways movement within… Continue
Added by Forex4you on March 21, 2011 at 7:56am — No Comments
Forex4you Technical Analysis 18 March 2011
Scenario, offered in the previous analysis has been correct - the price tested the 1.4080-1.4040 resistance range and it currently resides around levels 1.4045/50. Indicators suggest growth, which gives reasons to postpone pullback down expectations for some time and expect a decline to commence right from the current levels. Support at 1.3850 should be considered as the target for decline. 1.3850 level breakout, together with up trend line… Continue
Added by Forex4you on March 18, 2011 at 8:00am — No Comments
Forex4you Technical Analysis 17 March 2011
EUR/USD has rallied strongly after completing a fulcrum bottom pattern overnight. The target for the end of the rally, taken from the 1.3870 lows was at 1.4005, which has already been surpassed. This could signify that the rally is now overstretched and due a correction. The exchange rate will probably drift back down, therefore, to 1.4000 before generating another directional move.…
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Added by Forex4you on March 17, 2011 at 8:13am — No Comments
Forex Forecast: Daily Technical Analysis - 10 March 2010
EUR/USD has fallen heavily to support at 1.3805 from where it has bounced back temporarily but we will probably get a retest of the 1.3805 lows as wave 4 finishes and then possibly a reversal and rally higher as Elliot wave 5 gets underway. There is substantial resistance at 1.3800 from the trendline of the whole move up from early January and this could provide the necessary platform from which to mount the rally.…
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Added by Forex4you on March 10, 2011 at 7:47am — No Comments
Forex4you - EUR/USD: Technical Analysis 09 March 2011
The price continued to fall and tested support at level 1.3850/40, mentioned previously as the key support for a downtrend to let the price decline lower, to 1.3740/20. Indicators are "bearish" which gives reasons to expect the price to reach the above mentioned targets in the near future. Nevertheless, the price will only reach level 1.3740/20 in case it breaches and holds below level 1.3850/40. Reversal to growth is also quite a possibility, ascension above 1.3970…
Added by Forex4you on March 9, 2011 at 7:02am — No Comments
Forex4you - EUR/USD: Technical Analysis 08 March 2011
The EUR/USD pair rallied up to 1.4050 as anticipated and then met stiff resistance from the juncture of major trendlines there. It has rolled over and fallen to 1.3920. There is a channel line supporting at 1.3915 but if it breaks through then that opens the way down to the target for the H&S pattern on the hourly chart at 1.3872. There is also support and resistance at 1.3860; and statistically we know there is good chance price will close above 1.3850. This seems to point to an…
ContinueAdded by Forex4you on March 8, 2011 at 6:31am — No Comments
Forex4you Technical Analysis 04 March 2011
Resistance breakout at 1.3900 would indicate the "bullish" dominating trend. The price rose to level 1.3950/60 and it's currently consolidating right around this resistance level. Indicators suggest further growth to the next resistance - level 1.4080/40, which may not only hinder growth, but trigger a large scale pull back downwards as well. Even a reversal is a possibility. A fall below strong support level 1.3900/1.3880 will indicate a… Continue
Added by Forex4you on March 4, 2011 at 6:54am — No Comments
Forex4you Technical Analysis 03 March 2011
The EUR/USD is still rallying and it will probably go a little higher perhaps to the band of resistance at the 1.3910 level. However, there is evidence of a possible decline on the horizon too. The exchange rate has reached an important resistance line at 1.3860, the move up from the Jan lows looks complete, and there is a demark sell signal. If prices drop they will probably reach the 1.3750 area initially where there is support from former… Continue
Added by Forex4you on March 3, 2011 at 7:11am — No Comments
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